Higher gold price - Co said a 35% yr/yr increase in average gold price received per ounce supported earnings and cash flow
Lower production - Gold output fell mainly due to the sale of Serra Grande, lower Obuasi production after a contractor fatality, and planned mine sequencing and maintenance
Cost pressures - Total cash costs per ounce rose due to inflation, higher royalties, increased fuel prices, and foreign exchange headwinds
Outlook reaffirmed for 2026
AngloGold Ashanti reaffirms 2026 full-year guidance for gold production, costs and capital expenditure
Company expects H2 2026 gold production to be higher than H1 2026, with unit costs trending lower
Company expects remaining 2026 cash taxes to be paid in equal quarterly instalments of $230m-$250m
Q2 profit and cash flow rise
UK gold miner's Q2 free cash flow rose 36% yr/yr to $727 mln; H1 cash flow up over 100% to $1.9 bln
Q2 headline earnings climbed 58% yr/yr, while EBITDA increased 46%
Company declared interim dividend and, on July 23, approved share buyback
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy"
Wall Street's median 12-month price target for Anglogold Ashanti PLC is $120.00, about 45.8% above its July 30 closing price of $82.33
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago
AU•
